Streit reportedly agrees to deal, but Flyers can't announce it yet

The Flyers, who despite their lack of success last season still came out on top in the 30-team race to spend (and sometimes waste) the most money on players, have reportedly agreed to a four-year contract with defenseman Mark Streit.
General manager Paul Holmgren acquired pending unrestricted free agent Streit's rights via a trade with the New York Islanders last week. A report from TSN in Canada said Streit will sign a four-year deal, though the team didn't immediately announce anything Monday.
It's likely they won't confirm anything until they can comply with the so-called "tagging rule," which is to say their payroll figure has to be no more than 10 percent higher than the salary cap. That may not happen until at least a couple of days after the Stanley Cup Finals end, because that's when the "amnesty" period for compliance buyouts will kick in.
The Flyers are fully expected to use that clause not only on Danny Briere's contract, but also goalie Ilya Bryzgalov's monstrous deal. The club would then commence to look to sign a veteran goalie to back up Steve Mason.
Meanwhile, despite Streit's age, he only has seven seasons on his NHL resume. He will anchor the second power play unit behind Kimmo Timonen, who likely is entering his last season with the Flyers. For this, Streit figures to pull in a total contract value of perhaps $21 or $22 million.